Middle East: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in the Middle East

The Middle Eastern aromatic hydrocarbons derivatives market dropped markedly to $X in 2021, which is down by -30.4% against the previous year. Over the period under review, consumption showed resilient growth. The level of consumption peaked at $X in 2020, and then dropped markedly in the following year.

Aromatic Hydrocarbons Derivatives Production in the Middle East

In value terms, aromatic hydrocarbons derivatives production shrank significantly to $X in 2021 estimated in export price. Over the period under review, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 6,475% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Aromatic Hydrocarbons Derivatives Exports

Exports in the Middle East

In 2021, overseas shipments of halogenated derivatives of aromatic hydrocarbons were finally on the rise to reach X tons after two years of decline. Overall, exports, however, recorded a sharp setback. The most prominent rate of growth was recorded in 2015 when exports increased by 153,350%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, aromatic hydrocarbons derivatives exports amounted to $X in 2021. Over the period under review, exports, however, saw a significant curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 16,858% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Israel represented the key exporting country with an export of about X tons, which recorded 80% of total exports. It was distantly followed by the United Arab Emirates (X tons), creating a 16% share of total exports. Turkey (X tons) held a minor share of total exports.

Exports from Israel decreased at an average annual rate of -28.8% from 2012 to 2021. At the same time, the United Arab Emirates (+10.2%) and Turkey (+4.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +10.2% from 2012-2021. The United Arab Emirates (+15 p.p.) and Turkey (+3.8 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -19.5% from 2012 to 2021, respectively.

In value terms, Israel ($X) remains the largest aromatic hydrocarbons derivatives supplier in the Middle East, comprising 92% of total exports. The second position in the ranking was held by Turkey ($X), with a 4.8% share of total exports.

In Israel, aromatic hydrocarbons derivatives exports contracted by an average annual rate of -24.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+5.4% per year) and the United Arab Emirates (+8.2% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, which is down by -86.5% against the previous year. Overall, the export price, however, recorded notable growth. The most prominent rate of growth was recorded in 2019 an increase of 623% against the previous year. The level of export peaked at $X per ton in 2020, and then contracted markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+5.6%), while the other leaders experienced mixed trends in the export price figures.

Aromatic Hydrocarbons Derivatives Imports

Imports in the Middle East

Aromatic hydrocarbons derivatives imports skyrocketed to X tons in 2021, increasing by 53% on the previous year's figure. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.2% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aromatic hydrocarbons derivatives imports surged to $X in 2021. Overall, imports recorded a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), Israel (X tons) and Turkey (X tons) represented roughly 84% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), making up a 13% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +31.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2021, together accounting for 83% of total imports.

Saudi Arabia, with a CAGR of +43.9%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, surging by 7.2% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic hydrocarbons derivatives import price decreased by -10.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 an increase of 44% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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